The following data from the just completed year are taken from the accounting records of Mason Company Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventories Rav materials Work in process Finished goods Required: Beginning $8,500 $ 5.500 $ 74,000. Ending $10.600 $ 21,000 $ 25.600 $ 659,000 $ 81.000 $ 130.000 $ 108,000 $ 46.000 $ 229,000 $ 207,000 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials 2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold 3. Prepare an income statement. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. Mason Company Schedule of Cost of Goods Manufactured Direct materials Beginning raw materials inventory Add Purchases of raw materials Total material 8,500 130,000 138 500